Cirrus Logic (NASDAQ:CRUS) Price Target Raised to $115.00

Cirrus Logic (NASDAQ:CRUS) had its target price upped by Barclays from $105.00 to $115.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

Several other analysts also recently weighed in on the stock. Stifel Nicolaus decreased their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Susquehanna boosted their price target on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Loop Capital began coverage on Cirrus Logic in a research note on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Cirrus Logic currently has an average rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $106.77 on Wednesday. The company has a 50 day moving average price of $102.54 and a 200-day moving average price of $115.86. Cirrus Logic has a fifty-two week low of $81.30 and a fifty-two week high of $147.46. The company has a market capitalization of $5.67 billion, a PE ratio of 18.10 and a beta of 0.91.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. On average, analysts forecast that Cirrus Logic will post 5.21 earnings per share for the current year.

Insider Activity

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the sale, the executive vice president now owns 8,330 shares in the company, valued at approximately $833,000. This represents a 19.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.02% of the company’s stock.

Institutional Trading of Cirrus Logic

Institutional investors have recently made changes to their positions in the company. Bank of Montreal Can grew its stake in shares of Cirrus Logic by 3.2% in the second quarter. Bank of Montreal Can now owns 5,398 shares of the semiconductor company’s stock worth $689,000 after acquiring an additional 166 shares in the last quarter. Creative Planning raised its holdings in shares of Cirrus Logic by 31.6% in the second quarter. Creative Planning now owns 7,518 shares of the semiconductor company’s stock valued at $960,000 after buying an additional 1,807 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Cirrus Logic by 52.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 329 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Cirrus Logic in the second quarter valued at about $1,009,000. Finally, Handelsbanken Fonder AB raised its holdings in Cirrus Logic by 20.8% during the third quarter. Handelsbanken Fonder AB now owns 15,695 shares of the semiconductor company’s stock worth $1,949,000 after purchasing an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with integrated digital signal processing; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.